Complete this question by entering your answers in the tabs below. Req 13 and 2 Reg...
Reg 1A Reg 1B and 2 to 4 Prepare the appropriate journal entries to record the pension expense, to record any 2021 gains and losses, to record the cash contribution to plan assets and to record retiree benefits. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) No Event General Journal Debit Credit 1 1 Pension expense Plan assets...
Actuary and trustee reports indicate the following changes in the PBO and plan assets of Douglas-Roberts Industries during 2021: Prior service cost at Jan. 1, 2021, from plan amendment at the beginning of 2018 (amortization: $4 million per year) $ 28 million Net loss—AOCI at Jan.1, 2021 (previous losses exceeded previous gains) $ 230 million Average remaining service life of the active employee group 10 years Actuary's discount rate 7 % ($ in millions) Plan PBO Assets Beginning of 2021...
Actuary and trustee reports indicate the following changes in the PBO and plan assets of Douglas-Roberts Industries during 2018: Prior service costat Jan. 1. 2018, from plan amendment at the beginning of 2015 (amortization$8 million per year) Net loss-AOCI at Jan.1, 2018 (previous losses exceeded previous gains) Average remaining service life of the active employee group Actuary's discount rate $ 40 million $118 million 10 years 5 ($ in millions) Pво Beginning of 2018 Service cost Plan Assets $ 660...
A partially completed pension spreadsheet showing the
relationships among the elements that constitute Carney, Inc.'s
defined benefit pension plan follows. Six years earlier, Carney
revised its pension formula and recalculated benefits earned by
employees in prior years using the more generous formula. The prior
service cost created by the recalculation is being amortized at the
rate of $8 million per year. At the end of 2021, the pension
formula was amended again, creating an additional prior service
cost of $65...
A partially completed pension spreadsheet showing the
relationships among the elements that constitute Carney, Inc.'s
defined benefit pension plan follows. Six years earlier, Carney
revised its pension formula and recalculated benefits earned by
employees in prior years using the more generous formula. The prior
service cost created by the recalculation is being amortized at the
rate of $5 million per year. At the end of 2021, the pension
formula was amended again, creating an additional prior service
cost of $35...
Prepare a pension spreadsheet to assist you in determining end
of 2018 balances in the PBO, plan assets, prior service cost—AOCI,
the net loss—AOCI, and the pension liability.
Actuary and trustee reports indicate the following changes in the PBO and plan assets of Lakeside Cable during 2018: Prior service cost at Jan. 1, 2018, from plan amendment at the beginning of 2016 (amortization: $7 million per year) Net loss-pensions at Jan.1, 2018 (previous losses exceeded previous gains) Average remaining service...
Required information Problem 17-16 Comprehensive-reporting a pension plan; pension spreadsheet; determine changes in balances; two years [LO17-3, 17-4, 17-5, 17-6, 17-7, 17-8] [The following information applies to the questions displayed below.) Actuary and trustee reports indicate the following changes in the PBO and plan assets of Lakeside Cable during 2018: Prior service cost at Jan. 1, 2018, from plan amendment at the beginning of 2016 (amortization: $6 million per year) Net loss-pensions at Jan.1, 2018 (previous losses exceeded previous gains)...
Required information [The following information applies to the questions displayed below.] Actuary and trustee reports indicate the following changes in the PBO and plan assets of Lakeside Cable during 2018: Prior service cost at Jan. 1, 2018, from plan amendment at the beginning of 2016 (amortization: $6 million per year) $ 46 million Net loss–pensions at Jan.1, 2018 (previous losses exceeded previous gains) $ 64 million Average remaining service life of the active employee group 10 years Actuary’s discount rate...
14 Check my work The following information applies to the questions displayed below Actuary and trustee reports indicate the following changes in the P8O and plan assets of Lakeside Cable during 2018: art 3 of 7 Prior service cost at Jan. 1, 2018, from plan anendment at the beginning of 2016 (amortization: $6 million per year) Net loss-pensions at Jan.1, 2018 (previous losses exceeded previous gains) Average remaining service life of the active employ Actuary's discount rate $40 million $58...
Check my work Actuary and trustee reports indicate the following changes in the PBO and plan assets of Lakeside Cable during 2018 Prior service cost at Jan. 1, 2018, from plan amendment at the beginning of 2016 (amortization: $6 million per year) Net loss-pensions at Jan.1, 2018 (previous losses exceeded previous gains) Average remaining service life of the active employee group Actuary's discount rate $40 mi11ion $58 million 10 years 101 ($ in millions) Pla PBO Ass $380 Beginning of...